If you started a company in 2017-2018 and want to find out how much to set aside for your taxes, this simple profits matrix should allow you to budget for your upcoming tax payments.
Watch out for the first personal tax payments due in January 2019. The first payment of income tax is effectively 18 months of tax and often the one most directors/shareholders fail to budget for.
Our tip is to get your accounting information to an accountant as soon as is possible after 31 March 2018. Do not leave it until January 2019 as you might have an unexpected tax bill to pay.
